Poly Sci Final exam day one
War crimes in which the ICC stepped in
"Ethnic cleansing" campaigns in the former Yugoslavia and the Rwandan genocide of 1994
Why is it rational to leave your cities vulnerable to nuclear attack under the logic of mutually assured destruction?
- by leaving them vulnerable each side bad a guarantee that a second strike will completely destroy the other side, thus deterring a first strike to begin with
What are the three major sources of international law?
- international conventions (treaties), whether general or particular, establishing rules expressly recognized by the consenting states - international custom, as evidence of a general practice accepted as law - the general principles of law recognized by civilized nations
What is equity?
- perception of unequal burdens - Poor countries want to develop - Rich countries pollute more and consume more - Equity issue major hurdle; led to failed Copenhagen summit (2009)
What is the North/South Gap?
- the north south gap is often used to describe the economic state of the international political economy - Basically, it describes a sharp divide between the wealthy countries in the north and less developed countries (LDC's) in the south - (This distinction is relatively broad) - Overall wealth had grown significantly since WWII but so has global inequality - 1980-2010: many countries relativeGDP down - 1990-2010: poverty goes up in 37 developing states - 1990-2008: average income per person in global south increased from $3,000 to 5,500; average income per person in global north increase from 20000 to 31,000
What are the reasons the Montreal Protocol was successful?
1) limited number of actors (chemicals produced primarily in the U.S. and Europe) 2) clear time horizons (clear short-term threat) 3) strong leadership (U.S. gave it high priority) 4) scientific consensus 5) technology (chemicals could be replaced)
What are the first mover advantages?
1. economics of scale: goods and services can be profiled nice cheaply if produced in bulk - first-movers are first to build in Karl's scale - Later developers most start small and bring cost up 2. Network effects: as industry succeeds in a certain location, other related firms tend to locate in same area to bring down costs (Detroit in 20th century, Silicon Valley in 21st century) - offers two advantages over late developers - 1) bring down transportation costs; 2) concentration of firms leads RA raise in innovation 3. Investment funds: investment is crucial to development - directly, ability to invest in new technology or efficiency determines success - Indirectly, societies that invest in public goods (education, infrastructure) to further facilitate more favorable business environment - Investment money comes from profits of earlier flights kg darker economic success
What are the three main functions of the World Bank?
1.) conducting research on development issues 2.) making policy recommendations to specific governments 3.) lending money
Why wasn't the import substitution model successful in the late 20th century?
1.) the timing was bad. Just as these counties shifted out of agricultural production into manufacturing, a substantial increase in global agricultural prices in the 1970's put food importers at a disadvantage 2.) despite protection from international markets, domestic production in most import substitution countries did not become competitive in international markets 3.) reducing competition from foreign firms reduced incentives for domestic firms to innovate and become more efficient
What is the Kyoto protocol?
A 1997 treaty limiting the emissions of greenhouse gases 39 annex 1 countries (large producers)reduce output by 5.2% -- amount varied by country Non annex 1 countries could continue to increase their output All of the annex 1 countries ratified the treaty by the U.S.
What is a monetary crisis?
A crisis that emerges when rapid sales pf a particular currency cause its value to collapse When investors anticipate that the value of a particular currency is likely to fall In ideal circumstances, the markets will simply adjust as people sell the currency, and a new, lower prices for the currency will be established However in an era with a great deal of cross-border stock investment and instant movement of capital, there may be panic, sending the value of the currency crashing downward and the entire economy with it Most often this happens when a government is trying to hold the value of its currency at a particular price and the currency traders doubt its ability to do so
What is a debt crisis?
A crisis that occurs when a debater country is no l need wiling of able to make the scheduled payments on its debts Sometimes a debtor is able to continue payments on its debts but sees that the costs of defaulting on the loans as lower than the cost of sacrificing domestic goals in order to continue making payments. If a government fears domestic unrest it may default, causing a debt crisis Example: the Latin American debt crisis arose in 1982 when Mexico announced that it could no longer make payments on certain loans. Two rapid increases in oil prices in the 1970's inhibited economic growth growth both within Mexico and around the world, decreasing demand for Mexican imports. So while obligations to repay bets remained constant, the supply of income with which to repay them declined
What does declining terms of trade mean?
A decline in the terms of trade means the price of exports falls relative to imports. Typically a country will have lower living standards and less ability to import. For example, suppose a developing country exports coffee beans and imports manufactured goods. A decline in the terms of trade will mean a country will see the price of coffee beans falls relative to manufactured goods. This means it has to export relatively more coffee beans to get the same quantity of manufactured goods.
What is the Washington consensus?
A development strategy favored by leading donor countries and organizations that advocates open economies, free trade, and minimal interference by the state in the economy Inspired by the polices of the Thatcher administration in Britain and the Reagan administration in the United States in the 1980's
What is a market without restrictions?
A free market
What is a great power?
A great power is a sovereign state that is recognized as having the ability and expertise to exert its influence on a global scale. They posses military and economic strength, as well as diplomatic and soft power influence (especially over middle and small powers)
What is the ozone layer?
A layer of ozone in the upper atmosphere that reduces transmission of ultraviolet radiation. Ozone is a form of oxygen with three atoms per molecule (O3) rather than the typical two (O2). At ground level, ozone is a respiratory irritant
What is HDI?
A measure of poverty produced by the United Nations Development Programme that supplements per capita GDP (at purchasing power parity) with measures of life expectancy, literacy rates, and average years of schooling This focuses on people's living conditions as opposed to income figures
What is the gender Development index?
A measure, published by the UN, of the economic equality of men and women It is similar to the Gini coefficient, but it compares men and women rather than the poorest and richest High ranking countries (most equal) include: Norway, Iceland, Sweden, Australia, and the United States Low ranking countries include: most of sub-Saharan Africa, such as Niger, Burkina Faso, Mali, and Burundi Women are especially disadvantaged where poverty is harshest
What is fair trade?
A narrower approach to free trade that advocates retaliation against states that are perceived as "cheating" on free trade It came about with the concern over trade deficits, people are advocating for this instead of free trade In this approach action would be taken against states that pursued a trade surplus as a means of stimulating their economies This view sees trade imbalances as the result of cheating on free trade rules, which in fact, is only one possible source of imbalance
What is an NGO?
A non-governmental organization, they are not for profit organizations that are independent from states and international governmental organizations Some examples are: Greenpeace, Red Cross, World Wildlife Fund, and churches A vast category of diverse interests: can include groups similar to domestic interest groups but with transnational concerns and organizational structures, and groups that focus NOT on influencing governments but on conducting activities in different countries
What is a quota?
A numerical limit in the amount of a certain item that can be imported In the 1980's a quota was out on Japanese automobiles coming into the U.S. in order to protect U.S. auto firms Who pays? No one Who gets the money? No payment Who wins? Domestic producers, who can charge higher prices and innovate less Who loses? Consumers, who must pay higher prices for less innovative goods; producers in other countries
What is a free market?
A place where the price of goods is solely determined by supply and demand, there is no such thing as a free market though Restrictions to the free market are set by politics
What is laissez-faire economics?
A policy of minimum government influence in the economic affairs of individuals and society. Was big in the 1800's in Britain The government has choose to allow this to happen though, a governing body must exists and decide they will allow a free market to happen A justification of this statement of not needing the government in economics is the invisible hand effect which says the economy is self regulating, think peanut farmer raising prices in U.S. could effect people on a global scale who buy the peanuts
What is non discrimination?
A principle guiding tariff policy that requires a country to apply equal tariffs on all of its trading partners; also referred to as the most favored nation principle The GATT was based on this principle rather than reciprocity It meant that a given states tariff on a particular good would e the same for all GATT members Giving one state a better deal than others in return for some reciprocal concession was no longer her permitted Each GATT member would be treated AS WELL as the most favored nation
Relative gains
A problem with free trade arising from the fact that if one state can gain more wealth from a given transaction, it can potentially increase its military power VI's-a-VI's he other state. This implies that even if both sides gain, the side that gains more may increase its power over the side that gains less
What is the Trans Pacific Partnership?
A proposed agreement to reduce barriers to trade among twelve counties in North and South America, Asia, and the Pacific, including Australia, Canada, Chile, Japan, Mexico, Singapore, and the United States
What is a tariff?
A protectionist measure: A tax in imports used to protect domestic producers from foreign competition Who wins- exporting firms Who gets the money- government Who wins: domestic producers, who can charge higher prices and innovate less Who loses- consumers, who must pay higher prices for less innovative goods; producers in other countries
What are the UN Millennium Development Goals?
A set of goals and accompanying targets set by the UN, aimed at addressing poverty and inequality One goals was to get wealthy states to acknowledge that addressing poverty and inequality is important for development Some of the targets were things like: reduce by half the proportion of people who suffer from hunger and develop a global partnership for development
What is zero-sum game?
A situation in which any gains by one side are offset by losses for another. Relays the view in which one side can gain inky at the expense of another
What is a developmental state?
A state that takes an active role in economic development by fostering the accumulation of capital to invest in particular industries and building the legal and bureaucratic infrastructure necessary for capitalism to thrive
What is the Gini coefficient?
A statistic developed by Italian statistician Corrado Gini to compare the incomes of the top and bottom fractions of a society The coefficient ranges from 0-1, with 1 representing a situation in which one person has all the income and everyone else has none, and 0 representing situation in which everyone has equal income
What is state socialism?
A strategy for development in which the state rather than the market allocates resources It is a mix of two ideologies: economic structuralism (the notion that market capitalism and private property led inexorably to the exploitation of one class by another) and economic planning (which provided an alternative to market based distribution)
What if the trade balance is negative?
A trade deficit, the economy is importing more than it exports, so that exports minus imports is a negative number
What is good and what is not in trade balance
A trade surplus is good and a trade deficit is bad A deficit implies that goods that could have been produced domestically are being produced abroad If that is true then the shift of production from the home economy to be their countries decreases the demand for labor at home, which other things being equal, implies that wages and employment will decrease A surplus is seen as beneficial to a country because it implies that the country, by selling goods abroad, can employee more workers at higher wages than if production and sales were limited to the domestic market Surplus is also a good thing because when an economy is exporting more than it imports, the demand to buy that states currency will be higher than the need to sell, and the currency will increase, which will be beneficial to the economy
What if the trade balance is positive?
A trade surplus, when the country is exporting more than it imports
What is mercantilism accord g to the textbook?
A trading doctrine that focused on state power in a conflicting world. It was based on the idea that the overall amount of wealth in the world was fixed by the amount of precious metals. Therefore, international trade was a zero-sum game, and the goal of every state was to run a trade surplus in order to accumulate more money
What is a TNC?
A transnational cooperation, meaning a cooperation that operates in several different countries, like McDonalds and Apple Work across national boundaries and are not state
What are the distributional outcomes of a policy?
About who benefits and who gets hurt, who wins and who looses, it's a political approach to the international political economy
What is embedded liberalism?
According to John Ruggie, the normative consensus that guided international economic arrangements after WWII. It combined a commitment to expansion of free trade with acceptance that states would have to intervene domestically to protect themselves from some of the effects of free trade. It recognizes the benefits of free trade, so the major focus of this post war system was on the reduction of tariffs.
Who is the founder of modern economics?
Adam Smith
How can demographic transitions affect advanced countries?
Advanced countries faced demographic transition due to low birth rates - death rates fall, birth rates decrease,bin equality rise-- population age - Fertility rates falling below the replacement rate (2.1) required to sustain economic growth= falling populations
What is tied aid?
Aid that must be spent on goods and services from the donor country When tied aid comes in the form of loans, the receiving country may get little of the benefit of the aid but be responsible for paying back the entire loan. Example: the Freedom Support Act, through which the U.S. provided aid to the post-Soviet states after 1991, required that much of the mines be spent on U.S. grain and farm equipment, both of which were available more cheaply from Russia. The benefit to U.S. firms was obvious, but it is not clear that this provision of the act provided a substantial benefit to the Russian economy.
What is air pollution?
Air pollution is the first environmental problem to enter the international agenda in the 1930's - U.S. vs. Canada: sulfur dioxide emissions The primary cause of air pollution is the worlds reliance on fossil fuels (oil, coal, and natural gas) - 6.3 billion tons of carbon are added to the atmosphere - by 2010 and estimate 9 billion tons will be added - global carbon emissions quadrupled since 1950
What is an example of an environmental problem that is transnational but not global?
Air pollution: flowing across the borders of the United States and Canada and Europe
The Kyoto protocol includes provisions for emissions trading what does that mean?
Allows states that reduce their output below commitment to "sell" greenhouse credits to other states
What are regulations?
Almost any type of regulation, such as environmental of health regulation can serve as a protectionist measure if, in practice, it creates more difficulty for importers than domestic producers. EU restrictions on genetically modified crops, viewed in Europe as a health measure, are viewed as trade barriers by U.S. farmers and agribusinesses because U.S. firms produce more genetically modified crops and seed than EU firms do and are therefore disproportionately hindered by the restrictions Who pays? Governments (pay for enforcement) Who gets the money? Bureaucrats (especially if they take bribes to help firms avoid regulations) Who wins? Domestic producers, who face reduced competition and so can charge more Who loses? Consumers, who must pay higher prices, producers in other countries, who's costs are higher
One way of overcoming the prisoners dilemma is the tit-for-tat strategy--what is that?
Also known as the reciprocity strategy actors evoke cooperation if they cooperate on the first move and then do whatever the other player does on subsequent moved - every defection is met by defection, every cooperative move is reciprocated - Shadow of the future
What does lender of last resort mean?
An actor that is committed to continuing to lend money t stresses economic actors when market institutions would refuse to do so A lender of last resort is an institution, usually a country's central bank, that offers loans to banks or other eligible institutions that are experiencing financial difficulty or are considered highly risky or near collapse. In the United States, the Federal Reserve acts as the lender of last resort to institutions that do not have any other means of borrowing and whose failure to obtain credit would dramatically affect the economy
What is reciprocity?
An agreement whereby two states agree to have the same tariffs on each other's goods
What is the multiplier effect?
An economic effect whereby an increase in spending (for example, of funds provided by a donor) produces an increase in national income and consumption greater than the initial amount spent. When aid flows out of a country, the benefit of aid may accrue to the donor rather than to the recipient. Thus, a single donation has its effect multiplied as it flows through the economic yielding profit to a succession of firms and individuals. If the money flows immediately out of the country, the multiplier effect goes with it.
What is an economic market?
An economic market is composed of the consumers and producers of goods and services The market is based on the supply by the sellers and the demand by the consumers
What is the Paris Agreement?
An environmental agreement intended to reduce greenhouse gas emissions starting in 2020 Treaty was negotiated by 195 countries at the 21st Conference of the Parties of the UNFCCC (United Nations Framework Convention on Climate Change) 177 countries signed the treaty, 15 have ratified it so far Implementation of the agreement will be assessed by member countries every five years Bottom-upstructure Name and shame enforcement mechanism
What is the Convention on Biological Diversity?
An international agreement aimed at conserving biodiversity, signed in 1992 This treaty has three central goals: 1.) the conservation of biological diversity 2.) the sustainable use of its components 3.) the fair and equitable sharing of the benefits arising out of the utilization of genetic resources
What is the intergovernmental panel on climate change (IPCC)?
An international body that assesses scientific research on climate change for decision makers Ty have been essential in marshaling scientific evidence to remove doubts about the seriousness of global warming
What is an IGO?
An international governmental organization, an organization whose membership consists of three or more nation-states, representatives of these states gather together to discuss issues that are of interests to the member states. such as the World Bank, the U.N., WTO, and NATO They are generally defined as having secretariats (permanent administrative office or department) of bureaucracies
What is the prisoners dilemma?
Anarchy creates many situations where it is irrational for states to cooperate. States often find themselves caught in a situation referred to as a: Prisoners dilemma: (cop shows) good cop, bad cop In this scenario, it is rational for each suspect to confess even though the best option is to stay quiet a situation in which two players each have two options whose outcome depends crucially on the simultaneous choice to made by the other, often formulated in terms of two prisoners separately deciding whether to confess to a crime. Explains why two people might not cooperate even if it is in their bets interest to do so
What is the most favored nation principle?
Another word for non discrimination, means that every member of GATT would be treated as well as the most favored nation
What is the invisible hand?
Basis for laissez-faire policie and in the greater economic system by just pursing their own self interest The unintended social benefits of According to Adam smith it is much better and much more efficient than government So like a domestic change in America like a recent change in agriculture can have large scale and unintended effects on the international economy
Why will collective goods not be produced by cooperations?
Because it is not efficient and is usually outside of their self interest This disincentive is based on the free rider problem It is more efficient to pay taxes and use government aid than coordinating
Why did the gold standard function as well as it did?
Because of the leading role played by the British government and British banks. They were willing to lend money to governments that were experiencing short-term imbalances in their payments, ensuring that small crises did not spread and become big ones
Adam Smith
Beliefs are: Complex divisions of labor will lead to global wealth for all Quality and efficiency are best achieved through the market (think survival of the fittest) Says the market produces an "invisible hand" effect directing economic relations Self interest produces social goods Assumed that greater wealth for all is in society's best interests Innovation only comes from no supervision of government Believes greed is good The very basis of all capitalism is the invisible hand The richer a society the better off you are
What is climate change?
Changes in long-term weather patterns that result from global warming the overall warming of the atmosphere may have very different climactic and weather effects in different places
What is green sells? Within sustainable development
Citizens will actually pay for more eco-friendly products, offsetting costs and increasing profits
What is the relationship between comparative advantage and liberalism?
Comparative advantage undermines liberal international theory and liberal trade theory which states s that when states cooperate both can benefit Contrasts realist view of international politics a zero sum gain Comparative advantage says that it raises international trade and brings down trade barriers and raises economic integration
What is dumping?
Considered a form of price discrimination, dumping occurs when a manufacturer lowers the price of a good entering a foreign market than it charges domestic customers. The identification of trade dumping can be performed simply by comparing the sales price of a good in its market of origin and the price listed in an importing market. Trade dumping is considered intentional in nature in that the primary purpose is to gain an advantage within the market that imports the goods.
What is sustainable development?
Development that meets the needs of the present generations without compromising the need of future generations
In embedded liberalism, why we're tariffs not eliminated completely if that was the ultimate goal?
Deviations from free trade were deemed necessary in order to cushion its affects, this is why some states like the U.S. were willing to allow nonreciprocity, which meant that their markets were more open to others than others markets were to them Opening up all markets immediately to free trade was seen as too disruptive to domestic economies, in particular to those how would loose their jobs in competition with overseas producers It became known as embedded liberalism because I placed liberalism within the broader goals of governments
What are subsidies?
Direct payments to producers to help them remain profitable They are often implemented for other policy reasons but they reduce foreign competition whether they are intended or not The extensive subsidies to farmers in the US and Europe are often cited by developing countries as barriers preventing them from competing more successfully in the global marketplace Who pays? Governments (tax payers) Who gets the money? Domestic producers Who wins? Domestic producers, who can make the same profit charging a lower price Who loses? Producers in other countries, who have to sell full price
What is the 'myth' of free market?
Economics and politics are deeply intertwined and can never be completely separated from one another Economics is fundamentally shaped around political needs For example: laissez-faire economics of 19th century Britain And politics is fundamentally related to economics For example: pocket book voting and lobbying
What is economic determinism?
Economics is driving motivation of political behavior Assumes wealth converts into other resources (fungible)
What is the master resource?
Energy is the master resource, lol other resource extraction depends on its availability
What is balance of trade?
Exports minus imports (measured in dollar value); a net accounting of how much in the way of goods and services is exported from a country compared to how much is imported In recent years it has shown that the U.S. trade deficit is increasing
What is the cost of adjustment?
Financial burdens that are imposed on a country as a result of changes in the international economic system
What are greenhouse gases?
Gases in the atmosphere that trap heat in the earths atmosphere. As they increase in concentration, the atmospheric temperature rises, causing climate change
What is GATT?
General agreement on tariffs and trade is the main trade provision of the Bretton Woods system The GATT lasted until 1995 when it was replaced by a stronger version embodied in the World Trade Organization or WTO GATT was based on the principle of non discrimination
Significance of the EU
Good example of a well run and high functioning IGO
What is good governance?
Governance that is transparent, controlled by the rule of law, accountable, and affective
What is GDP?
Gross domestic product, the total value of goods produced and services provided in a country during one year.
Who are the Asian Tigers?
Hong Kong, Singapore, South Korea, and Taiwan, this group of countries all went though rapid industrialization
What are the historical roots of inequality?
In 1750, present-day developing countries produced 73% of global manufacturing and US/Europe produced only 23% - 1900: US/Europe- 86% developing - 11% - 1900, Europe states 10x wealthier than Asian states Europe developed political systems that's encouraged innovation and investment--critical growth But European colonialism was critical to their economic development and impoverishment of the rest of the world - 1.) forcibly transferred weak form Vikings, 2.) controlled trading relationships - Colonies: raw materialism Europe: manufacturing - Result: colonies were poor and weak at independence
What is an example of a case being brought before the ICJ?
In 2009 with Burkina Faso and Niger and their border dispute, they had agreed on most things Haiti the border but one part remained contested and they agreed to bring it to the ICJ to resolve the matter, in this situation the ICJ acted in the role of arbitrator
What is the difference between a fixed and a floating exchange rate?
In a fixed exchange rate set price will be determined against a major world currency. In order to maintain the local exchange rate, the central bank buys and sells its own currency on the foreign exchange market in return for the currency to which it is pegged. Unlike the fixed rate, a floating exchange rate is determined by the private market through supply and demand. A floating rate is often termed "self-correcting," as any differences in supply and demand will automatically be corrected in the market.
What does it mean that the link between politics and economics runs in both directions?
International economics events= political consequences Political decisions= economic consequences
What is IPE?
International political economics, the two way relationship between international politics and international economics Considers questions concerning the movement of goods, money, people, and ideas across borders States have limited control over these processes Trade=powerful incentives for cooperation
What is a portfolio investment?
Investments made by purchasing stocks rather than physical assets
What is Amnesty International?
It is a NGO focused on human rights that claim so have over 7 million members and supporters around the world
One way of overcoming the prisoners dilemma is the hegemonic state--what is that?
It is dominance - a state powerful enough to enforce cooperation through threat of force - Hierarchical international structure - Creation of formal organizations to monitor and coordinate - Willing to pay the cost of providing a public good - Cooperation lasts only as long as the hegemon
How does voting work in the World Bank?
It is not easy like one state one vote, it goes based on the financial contributions each member makes to the banks lending resources In 2015 the U.S. had 16.1 percent of the votes followed by Japan with 7.5 percent
What is the economic and social council (ECOSOC)?
It is one of the six major organs of the United Nations, the UN council that oversees work on economic and social issues their goal is to advance the three dimensions of sustainable development: economic, social, and environmental. It is the central platform for fostering debate and innovative thinking, forging consensus on ways forward, and coordinating efforts to achieve internationally agreed goals. It is responsible for the follow up of U.N. conferences and summits
What are some problems with the Kyoto Protocol?
It is unbalanced Creates economic competition Defection Domestic policies
What is the universal declaration of human rights?
It was adopted in the aftermath of WWII and the Holocaust and is the central international statement enumerating and defining human rights It is aspirational rather than a binding law Lists an array of inalienable right sights that every individual is presumed to posses These include general rights to life, liberty, and the security of person To fair trial hearings and to privacy Freedom from torture and freedom to political asylum And freedom to work
How was the international debt problem one of the proximate causes of the N/S gap?
LDC/ face huge relative debt loads as compared first developed countries - most LDCs face debt problems so severe that they use significant amount of their GDP servicing debt (paint only the interest) - Shifts critical resources that could be used for development to staying afloat - Therefore, many countries face a debt trap - [ ] The major proximate cause of this problem stems from OPEC and the oil shocks of the 1970's - [ ] Quadrupling the price of oil in 1973 produced $ billions in profit-- deposited in banks in the North - [ ] North transformed deposits until loans for LDC's to pay for higher energy costs - [ ] 2nd oil shock in 1979 create worldwide recession--trade decreased, LDC's unable to service debt
What are LDC's?
Least developed countries, a list of countries that according to the United Nations exhibit the lowest indicators of socioeconomic development, with the lowest human development index ratings of all countries in the world
What are some conclusions about the N/S gap?
Many Asian and Central European states that were once poor are closing gap a/wealthiest countries - Decline in overall poverty and inequality Most African countries have either made no progress or gotten worse since 1980 - Rise in overall inequality Gap between wealthiest and poorest in growing in almost every country - major gender gap especially in poor countries
What are some negative affects in the manufacturing of collective goods?
Many economic activities such as producing collective goods have negative externalities or external costs by forcing costs of (polluted air, water, or deselected resources) onto others External costs point to the intense interdependence that exists in our modern world The oil or coal that one individual or state consumes is not available to another and get the pollution one actor creates affects everyone
What is one problem with collective goods?
Model does not account for political effects of such policies
What is population momentum?
More people, more reproductive years Hard to reverse population trends because of this
In economic liberalism what are newly industrialized countries?
NICs are countries whose economies have not yet reached a developed country's status but have, in a macroeconomic sense, outpaced their developing counterparts. Another characterization of NICs is that of countries undergoing rapid economic growth (usually export-oriented).
What has to do with the nationally determines contributions of the Paris Agreement?
Nationally determined contributions (NDCs) Level of NDCs will be set by each country - determines their target levels Contributions are not binding as a matter of international law No mechanism to force a country to set a target in their NDC by a specific date No enforcement if set target is not met
What are non renewable resources?
Natural produced whose supply is fundamentally limited, such as oil, minerals, and rare earth metals
What are renewable resources?
Natural products that can be sustained indefinitely, as long as the rate of consumption does not exceed the natural rate of replacement Such as fisheries, forests, and aquifers
What it's M.A.D
Neither side should attack because they know that the other could absorb an initial attack and strike back
What killed the fixed exchange rate system?
Nixon announcing that the U.S. would no linger redden dollars for gold and that henceforth the dollar would be allowed to float against other countries. Without the U.S. commitment to the price of the dollar in terms of gold, the fixed exchange regime was dead. Now currency prices fluctuate according to the supply and demand for each currency.
Can the UN general assembly make international laws?
No, they do not have the law-writing role of domestic legislature, the role of the Security Council is stronger though and they can pass laws but only on cases that are brought before them. They have no authority to pass general laws that are binding on states.
What is the free rider problem?
One of the main barriers to solving the collective action problem. Because all actors share the collective goods whether they contributed to them or not, giving them all incentives to free ride on the efforts of others. An actor can consume a public good (a collective good for instance) without having to pay for it The free rider problem is a market failure that occurs when people take advantage of being able to use a common resource, or collective good, without paying for it, as is the case when citizens of a country utilize public goods without paying their fair share in taxes.
What is the Secretariat of the United Nations?
One of the six major organs of the UN The various UN agencies are supported by a secretariat with roughly 8,900 employees which performs organizational, budgetary, translation, research, and other support services and administrative decisions. the secretariat is broadly organized into departments and offices by topic (like political affairs, legal affairs, public information), they do a lot of research and implant a lot of the actions discussed in other organs, they are the main source of political and economic analysis for the general assembly and security council; they administer operations initiated by the U.N.'s deliberate organs, operates political missions, prepares assessments that precede peacekeeping operations, conducts surveys and research, communicates with non-state actors such as media and NGO's, and is reasonable for publishing all treaties and international agreements
What is the international court of justice?
One of the six major organs of the United Nations, unofficially called the World Court, the court consists of 15 judges, one each from the five permanent men ears of the security council Many international treaties include in their writing that any disputes over the treaty should be solved by the ICJ Many states have signed agreements that they will submit their international conduct in general to the jurisdiction of the es do not like being brought before the ICJ and so they often avoid behaviors that would bring them there
What does IBRD do?
One of the two sections of The World Banks, it lends money, it does not grant it, to middle income countries and poorer counties considered to be a good risk in terms of repayment. South Asia and Africa each receive bait a quarter of the banks loans, with Latin America, Eastern Europe, and Asia receiving between 15-20 percent each. The two largest targets if investment are public administration and law enforcement. Also sanitation and water, health, and education. IBRD lending is financed by borrowing on world financial markets. The World Bank can borrow mines cheaply because of its credibility and can then lend to states on terms much more favorable than they would get from private markets
What does IDA do?
One of the two sections of the World Bank, it was founded because the poorest countries could not meet the repayment requirements for loans from the IBRD. It averages roughly 20 billion $ a eat in new loans, more than half of which is spent in sub-Saharan Africa and almost another third on South Asia. It's loans have a ten year grace period on repayment The main program areas are: infrastructure, public administration, and the social sector such as education and health services
What are the two different sides of theories in IPE?
Political theories and economic theories
What is economic liberalism?
Primarily concerned "on only economics and the relationships among individuals, firms, markets, and governments in the economics sphere" Individual interests will differ greatly from the state- represent constraints on state behavior - This constraint is especially powerful in open democracies= more peaceful states Is based in part on Adam smiths wealth of nations
What is PPP?
Purchasing power parity, a measure used to calculate GDP that takes into account that goods cost different amounts in different countries For instance it's hard to imagine how some countries can survive on a GDP per capita of $500, but $500 goes further in poorer countries than it does in rich countries PPP figures out the relative cost of goods, the difference can be significant For example: in 2014 China's GDP was measured at $7,380 using normal methods but $13130 using the PPP method PPP is widely considered a better statistic by economists but is rarely used because of how much data is required on the comparative prices
What are some protectionist measures?
Quotas Tariffs Subsidies Regulations that discriminate against imports
David Ricardo
Ricardo applied Smith's insights to the international economy and state to state trade He thought that free trade should extend to international trade--unrestricted by tariffs (taxes on imports) Had the idea of comparative advantage
What is comparative advantage?
Says that each country should specialize in in producing goods that they are most efficient at - each county is better off for specialization - export goods they are most efficient at producing - import goods they are less proficient at producing - capital of labor is not wasted on inefficient activities The ability of a party to produce a particular good or service at a lower marginal and opportunity cost over another. It is different from absolute advantage Is used to justify international free trade, decreased barriers to trade, and international economic integration
What is the foundation of the mutually assured destruction policy?
Second strike capability
What is modernization theory?
South is just at an earlier stage if development than the north If south wants to close gap, it must adopt same path as the northern community - Free market systems - Open democratic systems - Both reward merit over cronyism Urbanization is critical to development: - fosters education and socialization - Necessary for industrialization
What is protectionism?
States that want to protect domestic producers against competition from foreign firms can do so through a variety of measures, collectively known as protectionism. Measures taken by states to limit their actions imports An industry can be seen as protective, like steel used to be, if it needed for broader economic growth. Computer industry now is like that. Not wanting to trade with people
What is dollar overhang?
T The number of dollars held in foreign hands grew much faster than the supply of gold backing them amount by which U.S. dollars outside the United States (called eurodollars) exceed American gold reserves. While the dollar is no longer pegged to gold, under the Bretton Woods System, dollar overhang could make it more difficult to convert dollars to gold. Became a big problem during the Cold War and the Vietnam war and led to Nixon announcing that the U.S. would it kinged redeem dollars for food and that they would now be allowed to float against other countries.
What is the Copenhagen Summit?
The 2009 United Nations Climate Change Conference The summit failed because of an issue with equity
What are the different parts of the European Union?
The European Commission, the council, the European Parliament, the European court of justice
What is a gold standard system?
The IMF uses one, a system in which each currency represents a specific weight of food. This facilitates stability but is highly inflexible This was used until WWI Exchanges rates were highly stable because currencies were fixed in gold Because each currency was linked to gold, there was no capacity at all for monetary policy, apart from buying and selling goods Most economists see this inability to expand the monetary supply as a major brake on economic growth
What are the three pillars of the Bretton Woods System,?
The IMF, the World Bank, and the GATT/WTO
What is the World Bank?
The World Bank consists of two main structures, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
What is GDP per capita?
The average income of the people in a country It is calculated by dividing the overall annual income of the country by the population. It can be misleading though in societies with a log of inequality, in those societies for every millionaire whose income is far above average there must be thousands of others whose income is far below average. Thus to the extent that a country had a small number of wealthy people who make a disproportionate share of income, per capita GDP tends to underestimate poverty - 2011: highest-Luxembourg ($98,102); Lowest--Congo ($231) - The gap in GDP per capita between the rich OECD countries and the poor country's is 35 times higher now ($43,344 in 2011) than in 1960 ($1207 in 1960)
What is the European Commission?
The body within the EU that carries out many executive branch functions, is analogous to the cabinet in a domestic government
What is the council in the European Union?
The body within the EU that represents the governments of the member states and, along with the European Parliament, acts on legislation
What does it mean when the trade balance is zero?
The economy is importing exactly how much it exports
What is the Stockholm conference?
The first ever international environmental conference in 1972, it came as a result of growing European concerns over transboundary pollution
What is the role of the general assembly in the United Nations?
The general assembly is empowered to make recommendations to states on international issues within its competence. Representatives from the states of the world gather to debate and pass resolutions on the issues of the day. Resolutions there are not considered laws though Their goal is not to pass laws but to provide a forum for debate on global issue and to express, when necessary, international consensus They only have the power to discuss things, not to make laws Their only real power is over the UN's budget
Who is the Secretary General?
The head of the UN bureaucracy and the personification and public face of the UN
What is global warming?
The increase in the overall temperature of the planet that results when an increase in certain gases in the atmosphere traps more heat in the atmosphere; a source of climate change
What is the ICC
The international criminal court is responsible for the prosecution of war crimes and other heinous crimes
What is poverty?
The lack of sufficient incomes often accompanied by insufficient nutrition, housing, and other necessities. Poverty can be defined in absolute terms as "income poverty" or in relative terms, with a focus on the range of choices open to individuals
What is the maximum sustainable yield in sustainable development?
The maximum amount of a renewable resource that can be harvested each year without reducing the amount that can be harvested in future years especially in forestry and fisheries) the maximum level at which a natural resource can be routinely exploited without long-term depletion.
What is the deterrent function of the security council based on?
The model of collective security in the League of Nations
What is the Montreal protocol?
The most successful environmental operation, 1987 - 1st major environmental treaty - igneous by 24 states+ EU originally, now has 180 signatories Reduced CFC (aerosols) hurting ozone layer
What is deforestation?
The natural carbon converters, trees are being cleared at an alarming rate, thereby, exacerbating the problem - problem is particularly acute in tropical zones, such as the Amazon Deforestation also leads to a rise in flooding and decrease in food supplies and decrease in biodiversity
What is an example of an international regime?
The nuclear nonproliferation regime, states with the same interests in preventing the proliferation of nuclear weapons. The regime is the broad concept that helps explain the formal institutions and treaties like the treaty on non-proliferation of nuclear weapons and the international atomic energy agency and explain how they connect and why they exist.
What is the European Parliament in the European Union?
The only EU institution whose members are elected directly by the citizens It is the weakest of the major EU institutions It has some authority to amend legislation and to veto it on some issues but in other areas it only has the right on consultation
What is the OPEC?
The organization of petroleum exporting countries, its an IGO, it has members around the world and is concerned with promoting the interests of oil exporters
What is export-led growth and what is an example of it?
The period from about 1970 to 1985 saw the adoption of the export-led growth paradigm by the East Asian Tigers—South Korea, Taiwan, Hong Kong and Singapore—and their subsequent economic success. While an undervalued exchange rate was used to make their exports more competitive, these countries realized that there was a much greater need for foreign technology acquisition in order to compete in auto manufacturing and electronics industries. Much of the success of the East Asian Tigers has been attributed to their ability to encourage the acquisition of foreign technology and to implement it more efficiently than their competitors. Their ability to acquire and develop technology was also supported by foreign direct investment (FDI).
What is mercantilism? According to my notes
The philosophy that economics and politics are related, that politics come first, and that economic activity should serve the interests of the state Dominated economic thought in the early state system - leaders viewed the state as a means to amass great wealth to maximize power - Wealth was a tool to powers not the primary goal itself (unlike economic liberalism) Primary goal of the state is to export more than it imports - if the opposite occurs then the state is sacrificing its power and autonomy by becoming dependent on another Overriding comers for relative gains, as opposed to absolute gains (economic liberalism)
Who are the five permanent members of the security council?
The previous great powers who were the victors in WWII, United States, U.K. (Great Britain), France, Russia, and China
What is globalization?
The process in which international trade increases relative to domestic trade; in which the time it takes for goods, people, information, and money to flow across borders and the cost of moving them are decreasing; and in which the world is increasingly defined by single markets rather than by many separate markets When the amount of Cross-border movement begins to rapidly increase and businesses are expanding internationally, it's happening now
What is international law?
The set of rules and obligations that states recognize as binding on each other
What are collective goods?
The state only is to provide collective goods that the market cannot produce - are service or products that are indivisible-- once supplied to one member, all members benefits and no one can be excluded - Education, security, law, infrastructure (roads) They are non rival meaning that's one actors consumption of it does not reduce another actor's consumption Clean air is a good example
What is import substitution?
The strategy of producing domestically those goods that a country has been importing This strategy was adopted by Latin America during and after WWII as well as in India, in many countries this strategy was aimed at breaking disadvantageous relationships with former colonial powers While this was successful in earlier years for the U.S., Germany and Japan, it was not successful in the late 20th century when people tried it then
What is the Bretton Woods System?
The system that guided economic arrangements among the advanced industrial states in the post WWII era. It included the GATT, the fixed exchange rate system, the IMF, and the World Bank. Bretton Woods was a resort in New Hampshire where negotiations took place. It consists of both trade and economic provisions, which were intended to promote free trade and increase wealth around the world. These were seen as worthwhile goals as well as ways to defeat communism and promoting peace. Any country that chose not to participate would find itself disadvantaged in U.S. markets and investment, because we owned half the world economy
What is the Monetary Trilemma?
The three goals states historically have in deciding to approach international monetary policy: 1.) predictable exchange rates: fixed exchange rates facilitate free trade and investment by eliminating the risk that fluctuations in exchange rates will destroy anticipated profits. Stability and predictability are accomplished by fixing exchange rates. 2.) free movement of capital: free capital movement allows investors to invest where returns are greatest and provides poor economies access to much-needed foreign investment 3.) autonomous monetary policy: governments use monetary policy to respond to changes in their domestic economies (raising and lowering interest rates to regulate growth and inflation), without regard for policy choices in other countries or international markets The word trilemma comes from the fundamental rule in international finance that it is impossible to attain all three goals simultaneously States and groups of states must decide which of those three goals to forsake when they devise different exchange rate mechanisms and international financial practices
What are fiscal and monetary policies?
The two major ways in which governments can influence their economies. In fiscal policy, a government uses a budget deficit or surplus to stimulate or slow economic growth. - if economic growth is down, deficits can raise growth In monetary policy, a central bank raises or lowers interest rates to stimulate or slow economic growth - major ways that governments influence their economies
What are some critiques of the World Bank?
The voting procedure disenfranchises the poor countries that have the most at stake Lenin me unless it is highly effective, may leave recipients, with debt but without much benefit Conditionality undermines the sovereignty of recipient governments
What is the security council?
Their purpose is to help to avoid conflict in the international arena by performing -deterrent - peacekeeping - and negotiating functions The most powerful body of the United nations, 15 member including five permanent members, they are responsible for the maiden example of international peace and security. The security council uses sanctions sometimes to resolve international conflicts and also deploys peacekeeping missions which bring soldiers directly into conflict zones, these missions are very controversial. All their work revolves around solving problems and promoting peace between countries
What is the dependency theory?
Theoretical Explanations of the Gap -Dependency Theory: oGrowing gap is caused by exploitative post-colonial political structure imposed by earlier imperialism oAfter independence (1960) LDCs were forced to compete in a system where they were already far behind (economically, militarily)—started with major disadvantage oWhy? North has agenda-setting power and first mover advantage ♣LDCs are not diversified enough in terms of exports—overly dependent on international trade ♣Developed countries are not able to set the terms of trade ♣Foreign aid supports elites that reinforce this structure—finances repression, reduces state autonomy oConclusion: Adopting a similar strategy as earlier Northern countries only enriches the North Problem of late development: global South cannot follow the same path as Europe (no colonies and no competition) is the notion that resources flow from a "periphery" of poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former.
What is the world health organization?
They are a specialized agency of the United Nations that is concerned with international public health, they have offices in over 150 countries and their staff works side by side with governments and other partners to ensure the highest attainable health for all people. They combat diseases, helps mothers and children survive and thrive, and ensure the safety of the air people breathe, the food they eat, the things they drink, and the medicines and vaccines they need.
What are quality of life indicators?
They are ways of measurement that don't have to do with incomes but have to do with living conditions and quality of life in different places The two sets are: HDI And Gender Development Index
What is a structural adjustment plan in the IMF?
They consist of loans provided by the International Monetary Fund (IMF) and the World Bank (WB) to countries that experienced economic crises.The two Bretton Woods Institutions require borrowing countries to implement certain policies in order to obtain new loans (or to lower interest rates on existing ones). The conditionality clauses attached to the loans have been criticized because of their effects on the social sector. SAPs are created with the goal of reducing the borrowing country's fiscal imbalances in the short and medium term or in order to adjust the economy to long-term growth
What are realists beliefs on international law?
They find that self-interest and power politics will always trump international law. Powerful states either ensure that international law suits their interests, or they ignore it when it contradicts their interests Realists believe that reliance on international law rather than power politics was an important factor that led to Hitler's rise to power
What was a main problem of the dispute settlement policy in GATT?
They needed a positive consensus and disputing parties we're allowed to vote meaning that if you were loosing you would obviously go against it, binging it into a negative consensus
What are liberals beliefs on international law?
They see it as an essential part of international politics and say that realists misunderstand the attire of international law. They say that International law helps states emulate their relations in a wha that is mutually beneficial. They say that it generally enforces itself because Tate s that routinely isolate international law suffer a loss of prestige and reputation that harms their interests.
Who are the Great Powers?
U.S., Great Britain, Russia, China, and France
War crimes
War crimes received world attention after the atrocities of wwii A set of transgressions established by the Geneva convention, including willful killing, torture or inhumane treatment, willfully causing great suffering or serious injury to body or health unlawful deportation or transfer, and unlawful confinement of protected people
What is the IMF?
Was created o help the Bretton Woods System overcome imbalances. Not short term imbalances which were handled with loans but long term ones that required states running a deficit to cut imports in order to restore the currency balance. primary function is to coordinate and cope with problems in the area of monetary management (1947) - set up fixed exchange rate based on the U.S. dollar--backed by gold reserves - Stabilized the chaotic post-war monetary environment--limited inflation - Set price of gold at $35 per ounce (U.S.)-- other counties pegged their currency - Encore confidence in currencies backed by gold - IMF's function was to monitor and correct problems when the values of the currencies were threatened - Overcome financial imbalances (more currency flowing out than in): loans (short-term) or structural adjustment/austerity (long-term)
What are IMF conditionality programs?
When a country borrows from the IMF, its government agrees to adjust its economic policies to overcome the problems that led it to seek financial aid from the international community. These loan conditions also serve to ensure that the country will be able to repay the Fund so that the resources can be made available to other members in need. Lending reforms approved in 2009 streamlined IMF conditionality in order to promote national ownership of strong and effective policies.
What is the difference between comparative advantage and absolute advantage?
While absolute advantage indicates which nation is best at producing a given good, comparative advantage is an indication of which nation stands to lose the least by choosing to produce one good versus another.
What is peak water?
a concept that underlines the growing constraints on the availability, quality, and use of freshwater resources. Peak water is defined in a 2010 peer-reviewed article in the Proceedings of the National Academy of Sciences by Peter Gleick and Meena Palaniappan.
What is the collective action problem?
a situation in which a group of actors had a common interest but cannot collaborate to achieve it Climate change is a collective action problem because it is in all of our best interests to stop it but we can't all find a common ground to collaborate to stop it, like some people still favor business and their own personal wealth over what is best for the environment and us in the long run
What is a non tariff barrier to trade?
are trade barriers that restrict imports or exports of goods or services through mechanisms other than the simple imposition of tariffs. Such as quotas, domestic subsidies, and licenses
One way of overcoming the prisoners dilemma is the Mafia solution--what is that?
disproportionate response Say the Syria chemical weapons not going in present day, a disproportionate response form us to this would be us using a nuclear weapon on Syria You hit me I'm going to cut your hand off, you accidentally hit my friend with a car, I'm going to burn your family alive-- it's a disproportionate response
What was the dispute settlement policy in GATT
disputes in the very early years of GATT 1947 were decided by rulings of the Chairman of the GATT Council. Later, they were referred to working parties composed of representatives from all interested contracting parties, including the parties to the dispute. These working parties adopted their reports by consensus decisions. They were soon replaced by panels made up of three or five independent experts who were unrelated to the parties of the dispute. These panels wrote independent reports with recommendations and rulings for resolving the dispute, and referred them to the GATT Council. Only upon approval by the GATT Council did these reports become legally binding on the parties to the dispute.
What are political theories?
explanations that focus on the strategic and institutional environment in which interests are translated into policy
What are economic theories?
explanations that focus on the type and intensity of interests of the actors Such as economic determinism
What is free trade?
international trade left to its natural course without tariffs, quotas, or other restrictions. Feedback
What is the tragedy of the commons?
metaphor from the English countryside-- overgrazing in 19th Century villages - when land in a community is available to all go ask and each herder must decide whether to add one more animal to his herd - All gain from this decision will go to the herder but the cost (overgrazing) will be shared by all - Each herder has an incentive to add another animal yet all lose by this decision
What is imperialism? /colonialism
one country controls another country or territory (Colonialism) - state competition extends European imperialism over globe
What is acid rain?
rainfall made sufficiently acidic by atmospheric pollution that it causes environmental harm, typically to forests and lakes. The main cause is the industrial burning of coal and other fossil fuels, the waste gases from which contain sulfur and nitrogen oxides, which combine with atmospheric water to form acids.
What is an international regime?
range of cooperative activity from formal institutions to shared norms They represent an intermediate category of agreements that are not formal laws but are significant nonetheless in shaping state behavior A shared understanding on how states will behave on a particular issue
What is the dominant strategy in prisoners dilemma?
rational response for the individual regardless of the choice of the other actors - individual rational behavior results in an outcome that neither would prefer Provides some insight into why irrational consequences can result form rational behavior If they both cooperate they get 10 years instead of 20 then that's the dominant strategy
What is peak oil?
the hypothetical point in time when the global production of oil reaches its maximum rate, after which production will gradually decline. Feedback
What is biodiversity?
the variety of life in the world or in a particular habitat or ecosystem. Feedback